One Capital Management LLC Reduces Stock Holdings in Wells Fargo & Company (NYSE:WFC)

One Capital Management LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,861 shares of the financial services provider’s stock after selling 2,517 shares during the quarter. One Capital Management LLC’s holdings in Wells Fargo & Company were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital World Investors increased its position in Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after purchasing an additional 263,176 shares in the last quarter. Sanders Capital LLC boosted its stake in Wells Fargo & Company by 3.2% in the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after buying an additional 781,772 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after buying an additional 831,975 shares during the last quarter. California State Teachers Retirement System boosted its stake in Wells Fargo & Company by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after buying an additional 25,896 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after buying an additional 2,349,595 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $53.81 on Tuesday. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $187.60 billion, a PE ratio of 11.05, a P/E/G ratio of 1.27 and a beta of 1.16. The stock’s 50 day moving average is $56.49 and its two-hundred day moving average is $57.92.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WFC shares. Morgan Stanley raised their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets lifted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.